Sales slumps & Reality TV
Plus: Beginner’s guide to weed
The Broccoli Report
Monday, May 16, 2022
Time to read: 3 minutes, 41 seconds. Contains 737 words.
Good morning, Report readers!
This time last year, I was just getting on TikTok. I quickly discovered that it’s even harder to do weed things there than on Instagram, which meant IG was the place for me. Nowadays though, scrolling IG feels like finding yourself in the wrong room at the house party, wondering where everyone went. While analysts don’t hear a swan song for IG just yet, I can’t help but feel drawn to the party room, where everyone seems to be having more fun.
The secret hashtags and creative weed synonyms required to make cannabis content on TikTok are always evolving, so I welcome any shortcuts to cannabis-related accounts or trends you enjoy. Let me know in the comments, or find me—@laurenyoshiko—on TikTok. And stay tuned for an update on all things weed on TikTok this Friday.
And… have you registered for our next AMA? If not, you can do that right here.
One-Hitters: Cannabis News at a Glance
Could Colorado’s nine-month decline in cannabis sales be a cautionary canary in the coal mine for maturing markets? Per data from Jane and Headset, CO dispensaries saw a welcome bump on 4/20, but it was still less than 2021 pot holiday sales. Losing some out-of-state shoppers to recently legalized neighbors like New Mexico and Arizona is a one likely factor, indicating other early adopter markets may experience drops as legalization spreads. Another element is the drastic oversupply of cannabis in mature markets. The race to the bottom with wholesale flower pricing has dropped the average price per pound from $1,300 to $2,000 or more in 2020 to as low as $400 to $800 in March 2022.
Much to my chagrin, other cities have yet to follow New York’s example and legalize public cannabis consumption. Still, I’m hoping that NY’s decision to make an allowance for tax deductions by legal cannabis businesses will have a major impact on legalized states who haven’t yet felt comfortable making that call.
Just starting out in the CBD/hemp scene? Green Light Law Group is hosting an all-encompassing CBD webinar on May 26th at 12:00 pm PST with a panel of three attorneys discussing current federal and state laws affecting CBD, breaking down the 2018 Farm Bill, and answering attendee questions.
The FDA issued warning letters to five companies for selling Delta-8 THC products that they claim can treat medical conditions like cancer, multiple sclerosis, chronic pain, nausea, epilepsy, and anxiety. It’s a reminder that the quickest way for brands to get in trouble is by making medical claims, whether operating in a legalized market or not.
In The Dose, Bloomberg’s cannabis newsletter, Tiffany Kary discusses the increasingly concerning environmental impact of cannabis cultivation. A 2021 study in the Journal of Cannabis Research shows cannabis plants consume around twice as much water as maize, soybeans, wheat, and wine grapes. And according to estimates from Morningstar, cannabis cultivation will represent 1% of total U.S. electricity demand by 2030. These dark statistics hit even harder knowing the amounts of oversupply from British Columbia to San Diego County.
The Los Angeles Times spoke with local cannabis figures on their approaches to cannabis-friendly motherhood, including Shonitria Anthony of Blunt Blowin’ Mama, (Shonitria will join me on the next episode of Broccoli Talk!)
In celebration of Asian American Pacific Islander Heritage Month, HiVi partnered with CBD brand KhuenPhu to launch Modern Cannabis—an educational movement for a more inclusive and accessible cannabis community. The project hopes to take a more universal approach to cannabis normalization, creating approachable materials for older generations and non-English speakers about the wellness benefits of cannabis. They kicked off with a 200-page beginner’s guide to cannabis translated into 12 Asian languages and verified by Dr. June Chin.
Spencer Pratt—yes, of MTV's The Hills—wants to produce a cannabis reality show, one he imagines could become a “Real Housewives kind of franchise.” His season one pitch would focus on the operations and owners of California cultivator Cannabiotix, a regionally renowned company—and one I imagine the former reality star has perhaps invested in.
I’m into this Sundae School x Casetify collaboration on iPhones, AirPods, and Galaxy cases, but this Pixel holdout will have to continue covering her case with weed stickers for now. I know, I know—don’t judge me and my Android OS!
You can, however, judge the ashtray that I should’ve emptied yesterday,
Lauren Yoshiko